Net sales in the third quarter were $3,174 million compared to $2,468 million in the third quarter of 2017 reflecting the impact of the Signode acquisition, an increase in beverage can volumes and the pass through of higher material costs to customers. Income from operations was $365 million in the quarter compared to $328 million in the third quarter of 2017. Segment income increased to $415 million in the third quarter compared to $352 million in the prior year third quarter primarily due to the Signode acquisition. Commenting on the quarter, Timothy J. Donahue, President and Chief Executive Officer, stated, "The Company's performance was solid, and we remain on plan for the remainder of the year. Growth in our global beverage can businesses continued to be robust, offsetting soft European food can volumes reflecting the extremely challenging weather conditions which resulted in poor harvest yields. Click read more below for additional detail.
Starting January 2020 the chemical Bisphenol A (BPA) will no longer be allowed to be used in making thermal paper in the European Union. In response, UPM Raflatac announces its portfolio of thermal label papers and films is now BPA-free. Moreover, the company is providing total phenol-free thermal label paper options.
BPA is an organic synthetic compound used in the manufacture of plastics. It is also used as a color developer in the thermal layer of thermal paper. In recent years, there have been concerns that BPA could negatively affect people’s health which prompted the EU to set regulations restricting its use.
Responsibility is taken seriously at UPM Raflatac. The work does not stop at offering BPA-free materials. To follow future trends and shape industry standards, the company also offers total phenol-free thermal label paper options. The developer used in UPM Raflatac’s phenol-free materials is non-phenolic, making it chemically different from all other color developers used in thermal papers.
“BPA-free materials are soon to become an industry standard. We will continue to be at the forefront by investing in developing total phenol-free chemistry solutions going forward. By adopting total phenol-free thermal label papers, printers and brands can stay two steps ahead of the competition and protect their market position in the long term for the years to come,” says Ville Pollari, Director, Business Segment VIP & Prime, UPM Raflatac.